Guideline Value for NATESAN AVENUE

Natesan Avenue guideline value

The current guideline value of Natesan Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of Natesan Avenue has changed

Since the 2012 revision, the guideline value for Natesan Avenue has seen several changes. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Natesan Avenue's 2024 figure of Rs 2,200 per sq.ft is above this median.

• Natesan Street: Rs 2,200 per sq.ft (2024)
• Natesan Street (Near Omr): Rs 2,200 per sq.ft (2024)
• Narayanaswamy Street: Rs 1,700 per sq.ft (2024)
• Nazir Kagani Garden: Rs 1,100 per sq.ft (2024)
• Nannooh Brothers Garden: Rs 2,200 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Natesan Avenue?

The Sub Registrar Office that covers Natesan Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Karapakkam

The guideline value is a crucial factor during the registration of property transactions in Karapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized property value.

When buying or selling property, the guideline value helps in determining the official value of the property for registration purposes. It is important to be aware of the current guideline value to avoid any discrepancies during the sale or purchase process.

Frequently asked questions

What is the current guideline value of Natesan Avenue?

The current guideline value of Natesan Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Natesan Avenue?

Natesan Avenue is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Natesan Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.